Source: Sharecast
At the close, the Dow Jones Industrial Average was up 0.72% at 51,032.46, while the S&P 500 advanced 0.22% to 7,580.06 and the Nasdaq Composite saw out the session 0.20% firmer at 26,972.62.
The Dow closed 363.49 points higher on Friday, extending modest gains recorded in the previous session.
All three major indices wrapped up May's final session in the green and posted gains for the month as a whole, with the Nasdaq up more than 8%, the S&P 500 rising 5% and the Dow adding almost 3%.
Friday's advance followed another record‑setting session a day earlier, which came after reports that US and Iranian negotiators had reached a 60‑day memorandum of understanding to extend their ceasefire.
Donald Trump said on social media that he was meeting in the Situation Room "to make a final determination" on the agreement, insisting Iran must commit to never pursuing a nuclear weapon and that the Strait of Hormuz must be "immediately open". Following the announcement, West Texas Intermediate futures fell 1.73% to $87.36 per barrel, while international benchmark Brent crude lost 1.77% to $92.05 a barrel.
Also drawing an amount of investor attention, Dell Technologies posted its strongest revenue growth since returning to public markets, comfortably beating Wall Street expectations and sending shares as much as 39% higher in extended trading. Adjusted earnings came in at $4.86 per share, well ahead of the $2.94 consensus, while revenue jumped 88% year‑on‑year to $43.84bn, smashing forecasts of $35.43bn, with the surge driven by booming demand for artificial‑intelligence infrastructure, with AI server revenue rising 757% to $16.1bn. Dell now expects full‑year AI revenue of around $60bn, up from previous guidance of $50bn.
On the macro front, US wholesale inventories rose 0.5% month-on-month to $938.6bn in April, according to the Census Bureau, following an upwardly revised 1.5% increase in March, which was the strongest growth since August 2022, but fell just short of expectations for a 0.6% jump. April's increase marked a third consecutive monthly rise in wholesale inventories. Stocks of durable goods rose 0.9%, after March's 0.5% increase, while non-durable stocks decreased by 0.2%, easing from the prior month's 3.2% advance. On an annualised basis, wholesale inventories improved by 3.4%.
On another note, America's goods deficit narrowed to $82.4bn in April, according to preliminary data from the Census Bureau, down from $85.3bn in March. Exports surged 4% to a record $219.7bn, driven by strong sales of capital goods, industrial supplies and consumer goods. However, vehicle and food exports fell by 2.8% and 0.3%, respectively. On the other hand, imports rose 1.9% to $302.1bn, with increases in capital goods and foods being partially offset by declines in industrial supplies, vehicles and consumer goods.
Finally, the Institute for Supply Management's May purchasing managers index increased to 62.70 points in May, up from 49.2 points in April.
No major corporate earnings were slated for release on Friday.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
International Business Machines Corporation (CDI) (IBM) $297.80 12.71%
Salesforce.Com Inc. (CRM) $191.10 8.47%
Microsoft Corp. (MSFT) $450.24 8.47%
Goldman Sachs Group Inc. (GS) $1,025.56 1.70%
Boeing Co. (BA) $231.15 1.04%
JP Morgan Chase & Co. (JPM) $299.31 0.87%
Apple Inc. (AAPL) $312.06 0.68%
McDonald's Corp. (MCD) $279.20 0.44%
Visa Inc. (V) $326.36 0.43%
American Express Co. (AXP) $316.47 0.43%
Dow Jones - Fallers
Intel Corp. (INTC) $114.68 -6.14%
Dow Chemical Co. (DOW) $33.75 -2.93%
Nike Inc. (NKE) $46.23 -2.41%
Johnson & Johnson (JNJ) $225.33 -2.37%
Walt Disney Co. (DIS) $101.83 -1.86%
Coca-Cola Co. (KO) $79.01 -1.74%
Procter & Gamble Co. (PG) $143.56 -1.62%
Caterpillar Inc. (CAT) $875.87 -1.33%
Home Depot Inc. (HD) $317.14 -1.27%
Merck & Co. Inc. (MRK) $118.72 -0.98%
S&P 500 - Risers
NetApp Inc. (NTAP) $174.29 25.34%
International Business Machines Corporation (CDI) (IBM) $297.80 12.71%
Hewlett Packard Enterprise (HPE) $43.04 12.64%
Oracle Corp. (ORCL) $225.78 10.85%
TripAdvisor Inc. (TRIP) $11.18 10.26%
Adobe Systems Inc. (ADBE) $259.21 9.34%
Intuit Inc. (INTU) $331.53 8.83%
Align Technology Inc. (ALGN) $174.95 8.66%
Salesforce.Com Inc. (CRM) $191.10 8.47%
Microsoft Corp. (MSFT) $450.24 8.47%
S&P 500 - Fallers
Gap Inc. (GAP) $21.15 -15.43%
Coterra Energy Inc. (CTRA) $32.56 -8.62%
Kohls Corp. (KSS) $14.36 -7.71%
Clorox Co. (CLX) $90.02 -6.42%
Resmed Inc. (RMD) $190.57 -6.32%
Synopsys Inc. (SNPS) $475.62 -6.31%
Capri Holdings Limited (CPRI) $18.51 -6.23%
Intel Corp. (INTC) $114.68 -6.14%
Costco Wholesale Corp. (COST) $956.32 -4.71%
Coty Inc. Class A (COTY) $2.13 -4.48%
Nasdaq 100 - Risers
Workday, Inc. (WDAY) $146.19 17.70%
Adobe Systems Inc. (ADBE) $259.21 9.34%
Intuit Inc. (INTU) $331.53 8.83%
Align Technology Inc. (ALGN) $174.95 8.66%
Microsoft Corp. (MSFT) $450.24 8.47%
Biomarin Pharmaceutical Inc. (BMRN) $57.29 8.44%
Illumina Inc. (ILMN) $162.96 7.30%
Broadcom Inc. (AVGO) $446.77 7.25%
QUALCOMM Inc. (QCOM) $251.02 7.09%
Baidu Inc. (BIDU) $135.31 6.99%
Nasdaq 100 - Fallers
Qvc Group Inc Series A (QVCGA) $0.34 -13.49%
Synopsys Inc. (SNPS) $475.62 -6.31%
Intel Corp. (INTC) $114.68 -6.14%
Costco Wholesale Corp. (COST) $956.32 -4.71%
Texas Instruments Inc (TXN) $305.68 -3.97%
Regeneron Pharmaceuticals Inc. (REGN) $614.78 -2.38%
Marriott International - Class A (MAR) $375.60 -2.30%
Starbucks Corp. (SBUX) $99.16 -2.23%
O'Reilly Automotive Inc. (ORLY) $86.88 -2.11%
CSX Corp. (CSX) $45.26 -2.06%